7 ms·
Quote from MM - "When I learned in September 2016 that a large number of our user database files had been stolen, I worked with the team to disclose the incide
by Irishsteve 10y ago
Quote from MM -
"When I learned in September 2016 that a large number of our user database files had been stolen, I worked with the team to disclose the incident to users, regulators, and government agencies.
"However, I am the CEO of the company and since this incident happened during my tenure, I have agreed to forgo my annual bonus and my annual equity grant this year and have expressed my desire that my bonus be redistributed to our company's hardworking employees, who contributed so much to Yahoo's success in 2016."
So does that mean no one pushed it up the chain
- arjie 10y agoShouldn't you always have a breach? That way you get some of MM's bonus.
- Buge 10y agoThe employees directly responsible probably won't have a bonus.
- amptorn 10y agoFrom this quote it seems like she didn't so much lose her bonus as voluntarily declined it.
- secfirstmd 10y agoThat's what I would say in her position also.
- philipov 10y agoYes, and all executives who resign after a scandle do so voluntarily. No one ever resigns because the people above them offered it as a mutually-beneficial alternative to getting fired. I'll totally accept her motivations at face value.
- soneca 10y agoI don't see it the way you do. I never heard of an executive being pushed to earn less money the way executives are pushed to resign. Usually is quite the opposite, companies pay resigning executives a wealth sum as it is in the best interest of the company that the burned executive leave as soon as possible and with no intentions to harm the company after leaving. The board usually couldnt care less about the money a leaving executive gets. An executive leaving money on the table (and distributing among other employees) is extremely rare and I think your cynism have no logical thinking support here.
- 36bydesignBL 10y agoThey don't pay them a wealthy sum when their actions lowered Verizon's buying price by billions. If you crunch the numbers, there is a 0% chance Marissa did this 100% voluntarily with no pressure on her.
- jsjohnst 10y ago> when their actions lowered Verizon's buying price by billions. You mean 0.35 billion?
- tyingq 10y agoIt is common enough that it has a name...claw back provision. It's risen in popularity since the subprime mortgage crisis. Used more often to claw back bonuses for fraud, but used for lackluster performance as well. Voluntarily forgoing your bonus versus an embarrassing board decision isn't that odd.
- bogomipz 10y ago>"No one ever resigns because the people above them offered it as a mutually-beneficial alternative to getting fired. " When C level executives are involved in a scandal, this is exactly what happens. The folks above them "ask" for their resignation. The subtext is that it is mandatory. Resigning keeps them from the disgrace of being fired and also often allows them to keep certain things like bonuses, pensions etc.
- iand 10y agoWhen you agree to forgo something, you do so because someone else asked you to do it. Otherwise you would say you offered to forgo and they accepted.
- novaleaf 10y agoexcellent parsing of words :)
- rashkov 10y agoThat is a pretty good demonstration of a fluency in business speak.
- devoply 10y agoBusiness speak in the upper echelons.
- 12312throwaway 10y agoAny resource recommendations for someone to learn business speak such as this?
- deleted 10y ago[deleted]
- kafkaesq 10y agoWhen she said "I have agreed to forgo" it means she was "asked" to forgo her bonus -- presumably on the threat of being fired, otherwise.
- laughfactory 10y agoAnyone note the "I expressed my DESIRE that it be distributed among hardworking employees?" To me that sounds pretty empty. How about actually making it happen, Ms. Meyer? It would be a lot more palatable if she said she's distributed her bonus among YAHOO employees, full stop.
- arachnids 10y agoThe CEOs salary and bonus is negotiated by the board. What happened here is the board decided to not pay her, and she asked them to distribute it to the employees instead. It's not her pay to do anything with anymore.
- throwaway5752 10y agoIn corporations, the CEO reports to the board of directors. She can't redistribute compensation that has been docked from her.